NB Notifies of Board Meeting Resolutions

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Thursday, April 23, 2020 / 1:59 PM / NSE / Header Image Credit: Nigerian Breweries


Nigerian Breweries Plc ("the Company") hereby informs The Nigerian Stock Exchange ("The Exchange") and the investing public that in line with the circular issued by The Exchange on 17th April, 2020 on the above subject, the Board of Directors of the Company, at its meeting held on 22nd April, 2020, approved the following Resolution:


That Management be and it is hereby authorised to enter into recurrent related party transactions with any of the persons listed in (i) below and in respect of any of the transactions listed in (ii) below, which transactions are required to enable the Company continue with its day-to-day operations, and that any such transaction already entered into by Management be and it is hereby ratified.


That this authorisation will continue and remain in place for the next one year from the date of the Board's approval.

i.          Related persons with which the Company will be transacting:

a.      Parent Company (Heineken N.V.);

b.      Other Companies within the Heineken Group;

c.      Associated Companies with the Heineken Group; and

d.     Associated Companies with Nigerian Breweries Plc.

ii.         Nature of transactions:

a.    Purchase/Sale of raw and packaging materials, parts, equipment and finished goods;

b.      Services:

 

  • Management Services and support;
  • Technical and Know-How Services and support;
  • Contract Brewing Services;
  • Licensing of Intellectual Property Rights (Trade mark, Industrial Design and Patent) for production, sales and marketing of brands; and
  • Information Technology Services."

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Table:  Q1 2020 Unaudited Results

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